Working my Way to Financial Freedom and Sharing Insights that I Learn Along the Way
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Thanks for a great video. I have one question. Should we fill NRE interest income in line 19 and 20?
Sir I send form Coinbase to binance I lost. Network, BNB, Kocoin Network, ethum It's not work
Hi, What didn't work?
I really enjoyed your video on freelancing; it’s a great resource, especially since finding useful information in English can be challenging. I recently moved from Pakistan to Germany on a work visa and am currently in my third week in Hamburg, where I’ll be working full-time as an engineer. Before coming to Germany, I was freelancing, teaching cybersecurity, and working on projects for various clients on Upwork. My annual income from freelancing is less than 10,000 euros. I’m keen to continue freelancing here while ensuring that I remain legally compliant. As I consider myself a freelancer rather than a business owner, I would like to know how to register myself properly. Additionally, could you advise if it is possible to work full-time as an employee while also freelancing simultaneously under the current visa regulations? Thank you for your help!
Once again, Amazing Video. Short Question; any idea, in which Anlage to declare Interest from NRO account ( TDS already deducted) and Sale of Foreign Hoiuse Property?
Thank you :) . Interest income goes in Anlage KAP, and I believe its in Anlage SO for gains from foreign house sale. But you need to confirm this.
Wonderfull video and voice Srijit! I have a small question. For joint statement with wife who is not working. Do I need to attach separate Anlagen N and Anlage Vorsorgeaufwand for my wife and leave it blank or I don't need to attach.
@Srijith Kariyattil Really nice video after long time with no marketing for Expats living in Germany, when are you going to publish new video on how to declare these incomes in ELSTER? Also i have one question: lets say you earned the interest of 2 lakh rupees and TDS is deducted as 30% , so when you file taxes in India, you could get your TDS paid as total income is less than 3lakh. So while declaring this income in Germany, do we need say that 30% tax is deducted so as per DBA, no Tax deduction but added to progressive income? Here the catch is you already got the TDS back while doing tax declaration in India, so which income to show in Germany
Thanks, it was very clear and helpful ! I live and work in Germany, and I have an additional income from renting a flat located in Belgium. if I understood properly, I do not need to provide this information while filling my German tax declaration, right ?
Is there a way to add gas and electricity bills for the year or in addition to costs?
Thank you, Srijith, for the excellent explanation. Your video has been a valuable reference for me in filling out the Elster form for both last year and this year :)
Bhai, student ka toh form bata
There is no separate form for Students. Information should be entered in Hauptvordruck and additional forms depending on your income and expenses.
i love the way you are consistant my brother, all the best keep smilling
Hey, Thank you so much for the support brother.:)
Hi Bro, I created an account in elster for me, should my wife need to create another elster acccount or its not required?
Hey, If you are planning to file jointly then a separate account for your wife is not required
@@SrijithKariyattil thanks for replying, one more doubt, if I need to know her tax class, how can we know that without creating an account? I can request mine via the form for electronic card but for my wife, I don't know how to do that. Thanks in advance
@@SrijithKariyattil I gone through your website and it looks great and all the best
Hello Srijith, With this super explanation I had done tax return last year. This year i also want to do so, but seems there are changes in portal. Do you have similar video for this years Elster portal? Regards, Yogesh
Hey, I haven’t made a video for this year specifically. Could you let me know what are the changes? I guess they are minimal.
Hello Srijith, Very informative information. I have some questions --> Can you please let us know which form is needed to declare the income in India from a rental property in India? --> What are the forms for declaration of interest from NRE account ---> does it need to declare if I gifted some property in India to my siblings? ---> If i am filing the tax return from another tool, like wundertax, taxit etc. is there any possibility to declare these income and how to declare if you know.
Hey there, Here are the answers to your questions based on what I know: 1. Anlage AUS 2. Anlage KAP 3. I don’t think so. The money you’ve gifted likely came from your income or other sources that have already been taxed. Your brother should check if he needs to pay taxes based on India’s gift tax rules. 4. I don’t have experience with external tools, but I’m a big advocate of Elster since It’s the official tool from the Finanzamt and it’s completely free. Hope this helps :)
Great video but I wouldn’t take the Priority Pass benefit and €200 sixt credits at face value. Priority Pass is a moot point if you are redeeming your Amex points for e.g. business class because lounge access is included in these tickets. Also virtually nobody traveling in economy will pay for Priority Pass entries, not when the Priority Pass lounges are usually packed like sardines, at least in major European and American airports. The sixt credits is also a bit of a booby trap because it’s way more expensive than common ride hailing services such as Uber/Bolt/Freenow/etc. and so you’re basically forcing yourself to spend more just to be able to utilize the credits.
More awareness is needed about this. Great video👍🏻
Absolutely! Hope the message reaches more people.:)
Thank you the information is very helpful
Glad it was helpful!:)
Hi, 1. The German Government has given me Removal ( Relocation Allowance)Euro 150. Where should I show this on my income tax return? 2. Where should the following payment is to be shown in the Income Tax Return? 28. Beiträge zur privaten Kranken- und Pflege-Pflicht versicherung oder Mindestvorsorgepauschale
Hi, 1. The German Government has given me Removal ( Relocation ) allowance: Euro 150. Where should I show this on my income tax return? 2. Where should the following payment is to be shown in the Income Tax Return? 28. Beiträge zur privaten Kranken- und Pflege-Pflicht versicherung oder Mindestvorsorgepauschale Thanks
Hi Srijith, I am a private university masters student who worked part time to meet general needs. Should i mention my university fees both in Fortbildungskosten(Anlagen N) & Berufsausbildung or only in Berufsausbildung? 12:35
Very helpful! Thank you for the effort
Glad it was helpful!:)
I am getting an Error code like this Unfortunately your registration failed. Error number: 082005225
You suggest
Hey Mohak, I don't provide specific mutual fund recommendations here. As I mentioned in the video, what works for me might not work for you due to differing financial goals. In the upcoming videos, I'll show you how to choose a mutual fund based on your personal objectives. Stay tuned!:)
Your apple purchase are not investment, are purchase
I just used your instructions and completed the EÜR form. I have been agonising over this for weeks because I had no idea how to actually fill out this form until I found your video. Thank you so much for making this detailed explanation, this has saved me so much stress and worry. The thorough explanantion on each question made it easy for me to fill out and I can rest easy knowing that I filled it out properly. You have a real talent for explaining these complicated forms. I hope more people find this channel. Thank you again.
Ich habe eine Frage zu 2 Minuten und 44 Sekunden. Wenn ich mein Unternehmen am 1. Juni gegründet habe, sollte ich dann in diesem Abschnitt den Zeitraum vom 1. Juni bis 31. Dezember eingeben? Oder wäre es in dieser Situation besser, das Feld leer zu lassen? Wenn jemand antworten kann, danke! 답글
Congrats for your process bro
Thanks a lot brother.:)
Thanks man!
You are most welcome.:)
How would I change the IBAN number on Elster after I have submitted already? I am waiting to get my tax return for 2023 but my online bank IBAN has changed recently didn’t know this was gonna happen when I filed my taxes in feb.
Hey Adelina, I would suggest getting in touch with Finanzamt directly.
@@SrijithKariyattil ok thanks. I ended up changing it online and resubmitted it but maybe I should still contact Finanzamt.
Hey Srijith, do you know how can I fill Anlage WA-ESt? There is a line 6 which says: "Ausländische Einkünfte, die außerhalb der in den Zeilen 4 und / oder 5 genannten Zeiträume bezogen wurden und nicht der deutschen Einkommensteuer unterlegen haben (Steuerpflichtige Person / Ehegatten / Lebenspartner)". Do I need to mention my Foreign Gross Income after I left Germany or only Foreign Taxable Income? If it's taxable income, what all can I deduct from my Foreign Gross Income? Why I said Taxable Income is because the Tax office only calculates progressive rate on this, and not on Gross Income. Another question, I left Germany at the end of May (less than 183 days), so do I fall under limited tax liability or unlimited tax liability? I was on a blue card till May. Also, should I file the tax since I was in Germany for less than 183 days?
Hey Prashant, Sorry, I don't have any experience filling out this form. If you are interested to know further about German residence and how foreign income is taxed in Germany, you can watch this video: kzread.info/dash/bejne/q4yMlLesY5XSqZM.html
@@SrijithKariyattil Hey, I watched it but at this point: kzread.info/dash/bejne/q4yMlLesY5XSqZM.html, you said foreign income. The thing is that the progressive rate is applied to zvE (taxable income) and this progressive rate is also calculated based on the taxable income. Now if I declare my foreign income (which is gross income, and not the taxable income), the progressive rate would be higher which is wrong, right? Because they will add my German taxable income and Foreign gross income and then calculate the progressive rate.
Thank you, it's a very encouraging video, a must watch. I had taken help in filing returns previous year. Can I show this as an expense when filing tax returns for the next year? If yes, which section covers this info?
Hey Srijhit, Thank you for the video, I find it really helpful and also impressed by your content. :) Do you live in Freiburg ? It showed up in the video :D
Hey there, Thank you so much for your kind words-I'm really glad you found the video helpful! 😊 While I don't live in Freiburg, I am based nearby. :)
hey. Thanks for the video. Is Tax id and Tax number different numbers? My Tax Id is 11 numbers but in Elster it asks for only 10 digits when I select country Berlin. Thanks again
Informative 🙌
Thank you. :)
Hello Srijith, Thank you for the clear instructions. My tax class is 3 and I am private employee. I missed the Tax submission for the year 2022. Can I still do it on my own or is it only possible with the help of a Tax Consultant? I received a reminder letter from the Tax office to submit it before July 31st 2024. Many thanks in advance
Hey Ajith, if you do not belong to a category in which you are legally obliged to submit a tax declaration, then you can do it by yourself retrospectively for upto four years.
I just filled the form for two seperate years, but for both it shows zero, however there is no mistake, I really don’t under what’s wrong 😢
Hey, Sorry to hear that. Did you check your expenses and income? May be you didn’t have enough expenses that could get you a tax deduction.
@@SrijithKariyattilThank you so much for your answer. I totally forgot to edit. I found the mistake. Your video was really useful, I learnt a lot 🙏🏻
Very useful summarization👏🏼
Thank you.:)
Highly Appreciate the Video. May I know where I can fill if I had undergone medical treatments and in Private clinic where I paid amount in tax declaration
Thank you so much for this video!
Thanks a lot for watching :)
Thank you for your effort! This is very helpful!
Glad to be of help :)
Exactly please make a video on how to legally avoid taxes in Germany. Also how such avoidance will have an impact on our social security benefits like pension, health insurances etc.
Hey Sangita, Thank you for your suggestion. I will try to make a video on this topic soon. :)
Isnt a good idea, to own a commercial + residential space together near our home town, where there is demand for such space. The property should be build as enough as to pay your rent in Europe. 2 Benefits : 1. We will have an asset in our home town while we return back here. Also it creates additional income during retirement as well. 2. Economically ample space can be build in India with out any loan. One can own an asset in India to parallely meet the rental expense in Europe. Con : Timely Maintenance for the building to be met while living in Europe
Hey Sangita, Even though I do agree that Real Estate has its own benefits, there are certain drawbacks that people often overlook in their calculations. It's an investment that's expensive, you need upfront money to invest. It's illiquid, meaning you can't sell it quickly or just sell a part of it, like one room. The whole property needs to be sold at once. It also requires regular maintenance costs. Additionally, there could be other problems such as disputed titles, and tenants refusing to leave. And then the issue of Black money involved in real estate deals in India. If you have the upfront money to invest ad based on the location and other factors, then maybe, just maybe, real estate investment could be profitable. But we have to understand that owning a property may not be the wisest money choice one can make. :)
But during retirement, one needs a shelter to rule out the shifting anxiety. Shifting process is a huge burden of adaptation time , energy, money and emotion. And investing in Tier 3/4 real estate is economical. Thus decision is subjective.
Truee...... Investing in yourself is more important than delaying it for so long that it becomes unavailable. To be with oneself, being mindful to upskill oneself with things that gives goosebumps/ dopamine, is more important than negligible sacrifices. Started with tax videos ended up with resonating perspectives of life,
Hey Sangita, Thank you for your thoughtful comment! I'm glad to hear that the videos resonated with you and that you've found value in both the tax content and the broader life perspectives. Investing in yourself is indeed crucial, and it's great to see you prioritizing your growth and passions. If there's anything specific you'd like to see or discuss, feel free to let me know. Your feedback is always appreciated :)
Great brief
Thank you Rishab :)
That was useful, however I have a question, I followed your other video to fill out Anlage S for Freelancer. But for some reason, I didn't get any response of it's acceptance, instead I got fine. Now, I wonder may be I was supposed to fill Anlage G instead? Could you may be explain when to use Anlage S or G for freelancer? Thanks and much appreciated.
Hey Uburhan, In the Income Tax Act you will find the following definition for freelancers: “Freelance work includes independently carried out scientific, artistic, literary, teaching or educational activities […]” Section 1 8 Paragraph 1 No. 1 EStG. Basically, all jobs that, offer a service (and not goods), require personal specialist knowledge (e.g. through study or training), and be carried out independently are considered as freelancing jobs. For example, doctors and teachers who work independently are considered freelancers. It often comes down to small details and precise job descriptions. Hope that helps
I am not able to enter tax id number due to having only 10 digit space there but usually steur id comes with 11 digit.
Hey Siddharth, Could you tell me exactly, at which point did it ask for a 10 digit number?
It got sorted. Actually it was asking while requesting new tax certificate.
Glad to know that you got it sorted out. Let me know in case you need any support.:)
I tried to use the link of Gold Card, but only redirect to Platinum
Hey, Sorry for that. Do you see an option to change the card type and apply for the Gold card instead of platinum?
@@SrijithKariyattil Nop
Hey, Sorry for that. This is happening because, Amex is currently running an offer. I am sorting it out with Amex and will get back to you soon with a working link. Sorry for the trouble and thanks for your understanding and patience.:)
Hey, If you haven’t applied yet for the Gold Card, you can use the link below: americanexpress.com/de-de/referral/gold?ref=sANDEPejyG&XL=MIANS
Super informative video. Hi bro just a quick question, I am enrolled in a paid course. And also I have worked part time in last year. But the annual salary amount in less then 10k. So should I file an income tax this year with carrying forward the losses or can I file together at once after getting a full time job after completing my studies.
Hey Mayank, Unfortunately, I am not legally allowed to provide personal tax advice. When it comes to loss carry forward for student expenses, this can be done retrospectively for up to 7 years.
You deserve a lot more subscribers than you have, been following you since you had 118 subs. No regrets!
Thank you so much for your support and kind words! It means a lot to hear that you've been with me on this journey since the beginning. Your encouragement motivates me to keep creating and improving my content. Here's to growing our community together! Thanks again for being a part of this family :)
Excellent 👌 Well narrated Bhai🎉
Thank you.:)